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According to the CBO, between 1979 and 2011, gross median household income, adjusted for inflation, rose from $59,400 to $75,200, or 26.5%. However, once adjusted for household size and looking at taxes from an after-tax perspective, real median household income grew 46%, representing significant growth.
The recession officially ended in the second quarter of 2009, but the nation's economy continued to be described as in an "economic malaise" during the second quarter of 2011. Some economists described the post-recession years as the weakest recovery since the Great Depression and World War II .
The distribution of household incomes in the United States became more unequal during the post-2008 economic recovery. Income inequality in the United States grew from 2005 to 2012 in more than two thirds of metropolitan areas. Median household wealth fell 35% in the US, from $106,591 to $68,839 between 2005 and 2011. Causes
The Great Recession officially ended in mid-2009, but a recent Census Bureau report shows that, for the average American family, the first full post-recession year only brought increased misery.
April 29, 2009: The Federal Reserve projected GDP growth of 2.5–3% in 2010; an unemployment plateau in 2009 and 2010 around 10% with moderation in 2011; and inflation rates around 1–2%. May 1, 2009: People protested economic conditions globally during the 2009 May Day protests.
By law, the thresholds for the marginal federal income tax brackets must change each year to keep pace with inflation. For 2009, those brackets are as follows: Taxpayers Filing as Single: 10% on ...
During the depths of the recession in 2009, as millions of Americans lost their jobs, homes and life savings, the highest-paid earners in the United States saw their average incomes increase...
Income levels vary with age. For example, the median 2009 income for households headed by individuals age 15–24 was only $30,750, but increased to $50,188 for household headed by individuals age 25–34 and $61,083 for household headed by individuals 35–44. Work experience and additional education may be factors.
May 2009 – 1,700 jobs lost; June 2009 – 21,400 jobs lost; July 2009 – 32,200 jobs created; August 2009 – 27,100 jobs lost; September 2009 – 40,600 jobs created; October 2009 – 24,500 jobs created; April 2009 Australian unemployment rate: 5.5% July 2009 Australian unemployment rate: 5.8% August 2009 Australian unemployment rate: 5.8%
Income, Poverty, and Health Insurance Coverage in the United States: 2009; Image title: Current Population Reports, Consumer Income; Author: U.S. Census Bureau: Unique ID of original document: adobe:docid:indd:f950e127-f452-11dd-883c-b1e553b1148c: Date and time of digitizing: 11:59, 7 September 2010: File change date and time: 05:49, 16 ...